GASB Releases Standard on Disclosures About Certain Risks

The GASB has issued Statement No. 102, Certain Risk Disclosures. Under Statement 102, governments must “disclose essential information about risks related to vulnerabilities due to certain concentrations or constraints” when specific criteria are met.

Statement 102 is effective for fiscal years beginning after June 15, 2024, and reporting periods thereafter. Early adoption is encouraged.

For more information, see the press release on the GASB’s Web site.